Buying a house is a busy time for most consumers and home financing can be costly. There are many types of loans to choose from. Government loans are very popular right now, because FHA mortgage rates have fallen to such low levels. Home sales have been slow but prices have been falling, so there are certainly opportunities to make money.
David Weekley, CEO of Houston-based David Weekley Homes, is one of the country's largest home builders and he is also the author of a new book, How to Buy a Home Without Getting Hammered.
Weekley offers these 10 biggest mistakes in home buying:
- Not doing your homework. Knowledge is power. Tremendous information is available on the Internet. There is no excuse for entering the market unprepared.
- Trying to make a shrewd investment. People need to buy based on what fits their family. Don't try to guess what will happen to the market.
- Choosing a poor location. Even within a neighborhood, location matters. Is it on the busiest street? Is there a shopping center out the back window?
Read more > Bank Rate Article.